Chorus Aviation Q2 2014 operating income up YoY

Chorus Aviation Inc. (TSX: CHR.B) (TSX: CHR.A) said that for the second quarter 2014, Chorus reported EBITDA of USD50.7m compared to USD48.0m in the same quarter 2013, an increase of USD2.7m.

Operating income was USD34.3m, USD2.6m higher than the same period 2013. Adjusted net income of USD22.2m or USD0.18 per basic share was up by USD0.8m or USD0.01 per basic share over the second quarter 2013.

Chorus incurred USD4.5m in employee separation program costs in the second quarter versus USD2.2m in the same period in 2013. Chorus has invested USD17.2m in employee separation since the inception of this cost savings program in the first quarter of 2013.

Headquartered in Halifax, Nova Scotia, Chorus was incorporated on September 27, 2010 and is a dividend-paying holding company with various interests including Jazz Aviation Holdings Inc. and Chorus Aviation Holdings Inc.